FCCI Modernizes Claims Operations Through New Cloud Migration with Cognizant and Guidewire
Cognizant (Nasdaq: CTSH) and Guidewire (NYSE: GWRE) have partnered to modernize claims operations for FCCI Insurance Group, aiming to enhance efficiency in claims processing. This collaboration involves migrating FCCI to Guidewire Cloud, allowing for quicker claims management across various business lines. FCCI anticipates reduced processing times and costs, with improved customer experiences as agents can focus more on service. Cognizant's expertise in cloud migration and Guidewire products is significant, as they help insurers leverage data analytics and machine learning for informed decision-making. FCCI, which operates across 20 states, has over $1 billion in direct written premiums and is rated A (Excellent) by A.M. Best Company.
- Partnership aims to modernize claims operations for FCCI, enhancing efficiency.
- Migration to Guidewire Cloud expected to reduce claims processing times and costs.
- Agents will focus more on improving customer experiences.
- Cognizant's expertise in cloud migration can significantly enhance operational efficiency.
- No financial metrics provided to gauge the immediate impact on FCCI's profitability.
Cloud Solution Aims to Help Reduce Claims Processing Times and Costs, and Improve Customer Experience
TEANECK, N.J. and SAN MATEO, Calif., April 18, 2023 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) and Guidewire (NYSE: GWRE) today announced that they have modernized claim operations for the FCCI Insurance Group (FCCI), helping the regional property and casualty insurer to reduce claims processing times and costs and allow agents to focus on improving their customer experiences. Cognizant led the project with FCCI to migrate Guidewire ClaimCenter on Guidewire Cloud, empowering the insurer to manage claims more efficiently across its commercial and surety lines of business.
"Implementing Guidewire Cloud has enabled us to modernize and transform our claims organization," said Dave Patel, Chief Information Officer of Commercial Insurance and Senior Vice President, FCCI. "We're proud to be associated with Cognizant and Guidewire and look forward to our continued work with them in becoming more agile, maximizing efficiency, and accelerating our growth."
FCCI selected Cognizant for its expertise in conducting cloud migration assessments and implementing Guidewire products. With a dedicated Guidewire team, Cognizant has played a crucial role in modernizing property and casualty insurance companies' business processes and technology operations. Cognizant is a Global Premier Partner in the Guidewire PartnerConnect program, an early adopter of Guidewire Cloud, and the first partner to attain the Guidewire InsuranceNow specialization.
"We congratulate FCCI on achieving this significant milestone in its cloud transformation journey. We are thrilled to see the company continue fulfilling its mission statement of empowering employees to deliver commercial insurance products and exceptional customer service to meet the needs of its valued agency partners and policyholders so they can thrive, manage risks, and face the future with confidence," said Christina Colby, Guidewire Chief Customer Officer "We thank FCCI for its continued trust in Guidewire and our cloud services and look forward to our ongoing collaboration and shared success."
Cloud computing allows insurers to make faster and more informed business decisions through the utilization of data analytics, machine learning, and robotic process automation. Through its work with Cognizant, FCCI intends to gain access to relevant data, enhancing its ability to gain valuable insights into customer demand and market trends. As a result, FCCI will be able to process claims quicker, automate claims adjustments, and ultimately deliver a superior customer experience.
"In today's increasingly digital world, customers demand seamless digital experiences and quick processing of their claims," said Meera Krishnamurthy, SVP and Head of Cognizant Americas Banking, Financial Services and Insurance. "As FCCI expands its presence throughout the United States, Cognizant is excited to offer advisory, consulting, and technology services to help mid-market carriers like FCCI on their journey toward digital transformation. Our expertise in Guidewire products can help insurers optimize their claims operations and enhance the customer experience."
About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
About FCCI Insurance Group
Founded in 1959 in Sarasota, Florida, FCCI Insurance Group provides commercial property and casualty insurance, risk control services, and contract surety bonds across more than a third of the United States. Distributing exclusively through independent agents in 20 states, plus Washington, D.C., FCCI coverages include auto, crime, property, general liability, inland marine, surety, umbrella, and workers' compensation. FCCI insures policyholders across multiple industries, including agribusiness, construction, manufacturing, medical and professional, restaurants and hospitality, retail, service and repair, and wholesalers and distributors. FCCI has more than
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 500 insurers in 38 countries, from new ventures to the largest and most complex in the world, run on Guidewire. As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.
For more information, please visit www.guidewire.com and follow us on Twitter and LinkedIn.
For more information, contact:
U.S. Randy Zane | Europe / APAC Christina Schneider | India Rashmi Vasisht |
View original content to download multimedia:https://www.prnewswire.com/news-releases/fcci-modernizes-claims-operations-through-new-cloud-migration-with-cognizant-and-guidewire-301800100.html
SOURCE Cognizant
FAQ
What is the significance of the partnership between Cognizant and Guidewire for FCCI Insurance Group?
How will the migration to Guidewire Cloud benefit FCCI Insurance Group?
What financial standing does FCCI Insurance Group have?
When was the announcement made regarding the modernization of claims processing for FCCI?
What are the stock symbols for Cognizant and Guidewire?
